Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

The following tables contain selected unaudited statements of operations information for each quarter of 2021 and 2020. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2021	(amounts in thousands, except per share data)
Revenue from services	$	329,241	$	331,827	$	374,905	$	640,679

Gross profit(a)	71,465		72,590		83,794		147,150






Net income attributable to common stockholders	19,448		11,548		23,433		77,573




Net income per share attributable to common stockholders - Basic(b)	$	0.54	$	0.32	$	0.63	$	2.10




Net income per share attributable to common stockholders - Diluted(b)	$	0.53	$	0.31	$	0.62	$	2.07


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2020	(amounts in thousands, except per share data)
Revenue from services	$	210,064	$	216,779	$	193,968	$	215,606

Gross profit(a)	49,603		50,734		48,003		54,392



Consolidated net (loss) income	(1,768)		(14,048)		(1,148)		4,822


Net (loss) income attributable to common stockholders	(2,089)		(14,151)		(1,334)		4,612




Net (loss) income per share attributable to common stockholders - Basic and Diluted(b)	$	(0.06)	$	(0.39)	$	(0.04)	$	0.13

________________

(a) Excludes depreciation and amortization.

(b) The sum of the quarterly per share amounts may not equal amounts reported for year-to-date due to the effects of rounding and changes in the number of weighted average shares outstanding used in the calculation.

The following items are the most significant items that impact the comparability and presentation of our consolidated data:

•During the second quarter of 2021, the Company recorded impairment charges of $1.9 million related to ceasing use of certain leased properties. During the second quarter of 2020, the Company recorded impairment charges of $10.5 million related to goodwill and other intangible assets of the Search business, and during the second and third quarters, recorded $4.5 million and $0.9 million, respectively, related to ceasing use of certain leased properties. See Note 5 - Goodwill, Trade Names, and Other Intangible Assets and Note 10 - Leases.

•During the year ended December 31, 2019, the Company accelerated certain finite-lived trade names as part of a rebranding strategy. This resulted in additional amortization expense of $0.7 million, $1.4 million, and $0.9 million, respectively, related to the Nurse and Allied Staffing segment recorded in the first three quarters of 2020.

•On December 16, 2021, the Company acquired substantially all of the assets and assumed certain liabilities of Selected, Inc. and on June 8, 2021, the Company acquired substantially all of the assets and assumed certain liabilities of Workforce Solutions Group, Inc. The acquisitions were not material and have been accounted for using the acquisition method. The results of the acquisitions' operations have been included in the consolidated statements of operations from their dates of acquisition. See Note 4 - Acquisitions.

•The Company incurred restructuring costs primarily comprised of employee termination costs, lease-related exit costs, and reorganization costs as part of planned cost savings initiatives. In the first quarter of 2021, the Company recorded expenses of $1.2 million, recorded expenses in the second quarter of $0.8 million, and recorded immaterial expenses in the third and fourth quarter. In the first quarter of 2020, the Company recorded expenses of $0.6 million, recorded expenses in the second and third quarters of $2.3 million, and recorded expenses of $0.9 million in the fourth quarter.

•During the third quarter of 2021, the Company entered into an agreement for the reimbursement of $1.6 million in legal fees incurred in 2020 and 2021, which were collected in the fourth quarter of 2021, related to a previously-disclosed grand jury subpoena. During the second, third, and fourth quarters of 2020, the Company recorded legal

fees related to an ongoing legal matter outside the normal course of operations of $1.6 million, $0.8 million, and $0.6 million, respectively.

•In the fourth quarter of 2021, the Company benefited from a $37.5 million reversal of valuation allowance on its net deferred tax assets. See Note 14 - Income Taxes.